Bangladesh, Germany ink 3 technical agreements worth €14.45m
The first project, “Programme for Sustainability in the Textile Sector II [STILE-II]”, with a fund of €73 million, is aimed at supporting the public and private sectors to modernise Bangladesh’s textile and RMG industries.
Bangladesh and Germany have signed three technical cooperation agreements amounting to €14.45 million that focus on advancing sustainability in the textile sector, localising national climate adaptation targets, and transitioning to sustainable e-mobility.
Md Shahriar Kader Siddiky, secretary of ERD, and Andreas Kuck, country director of GIZ in Bangladesh, signed the agreements today (15 January) at a seminar held at the Economic Reporters' Forum (ERF) in the capital, according to a press release from the Economic Relations Division (ERD) of the Ministry of Finance.
The first project, "Programme for Sustainability in the Textile Sector II [STILE-II]", with a fund of €73 million, is aimed at supporting the public and private sectors to modernise Bangladesh's textile and RMG industries.
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The initiative aims to align the sectors with European Union sustainability standards, with the Ministry of Commerce serving as the sponsoring ministry, the release said.
The second project, "Support for the Localization of National Climate Adaptation Targets (LOCAT)", with a fund of €30 million, aims to enhance the institutional capacity of local governments in implementing City Climate Action Plans aligned with Bangladesh's National Adaptation Plan.
The third initiative, "Transition to Sustainable E-Mobility (Trans2SMo)", with a fund of €41.5 million, aims to promote sustainable electric mobility.
It focuses on collaboration among policymakers, businesses, and academic institutions, with the Power Division of the Ministry of Power, Energy, and Mineral Resources serving as the sponsoring ministry.
The signing of these agreements marks a milestone in the ongoing partnership between Bangladesh and Germany. Both nations reaffirm their commitment to advancing sustainable development in critical sectors, including textiles, climate adaptation, and e-mobility, read the ERD release.
The initiatives aim to significantly contribute to Bangladesh's goals of sustainable economic growth, environmental stewardship, and gender equality, the release further stated.
